Colgate-Palmolive Company Stock Forecast
Evaluation of Colgate-Palmolive Company stock downgraded after the last trading session.
(Updated on Mar 28, 2024)
The Colgate-Palmolive Company stock price gained 0.111% on the last trading day (Thursday, 28th Mar 2024), rising from $89.95 to $90.05. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.501% from a day low at $89.90 to a day high of $90.35. The price has risen in 7 of the last 10 days and is up by 1.92% over the past 2 weeks. Volume fell on the last day by -635 thousand shares and in total, 3 million shares were bought and sold for approximately $310.14 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.81% during the next 3 months and, with a 90% probability hold a price between $99.12 and $104.76 at the end of this 3-month period.
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CL Signals & Forecast
The Colgate-Palmolive Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $89.12 and $86.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, February 09, 2024, and so far it has risen 7.90%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Colgate-Palmolive Company stock
Colgate-Palmolive Company finds support from accumulated volume at $88.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.450 between high and low, or 0.501%. For the last week the stock has had daily average volatility of 0.799%.
Our recommended stop-loss: $87.19 (-3.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (CL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Colgate-Palmolive Company to open at $90.10, and during the day (based on 14 day Average True Range), to move between $89.09 and $91.01, which gives a possible trading interval of +/-$0.96 (+/-1.07%) up or down from last closing price. If Colgate-Palmolive Company takes out the full calculated possible swing range there will be an estimated 2.13% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $88.35, some $1.70 (1.89%) from the current price of $90.05, our system finds the risk reward attractive.
Is Colgate-Palmolive Company stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Colgate-Palmolive Company stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.283 Buy Candidate Downgraded
Predicted Opening Price for Colgate-Palmolive Company of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$90.10 ( 0.0555%) | $90.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 90.55 | 0.555 % | |
R2 | 90.38 | 0.364 % | ||
R1 | 90.27 | 0.246 % | ||
Current price: | 90.05 | |||
Support | S1 | 89.93 | -0.135 % | |
S2 | 89.82 | -0.253 % | ||
S3 | 89.65 | -0.444 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 90.05 | |||
Support | S1 | 88.35 | -1.89% | |
S2 | 86.52 | -3.92% | ||
S3 | 82.83 | -8.02% |
CL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 19, 2024 | Apr 19, 2024 | May 15, 2024 | $0.500 | 0.555% |
2 | Jan 11, 2024 | Jan 19, 2024 | Feb 15, 2024 | $0.480 | 0.574% |
3 | Sep 13, 2023 | Oct 20, 2023 | Nov 15, 2023 | $0.480 | 0.636% |
4 | Jun 08, 2023 | Jul 20, 2023 | Aug 15, 2023 | $0.480 | 0.643% |
5 | Mar 09, 2023 | Apr 20, 2023 | May 15, 2023 | $0.480 | 0.592% |
FAQ
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